AboitizLand, together with the Mactan Cebu International Airport Authority (MCIAA), has given industrial locators of Mactan Economic Zone II (MEZ 2) a 50% discount on rent for five months in the hope that the companies would drop plans to close or move out and relocate.
"We believe that this assistance, along with the support we have extended over the past 25 years, will be reciprocated by our locators through their continued commitment to the Philippines and to the people of Cebu," said Eduardo Aboitiz, head of AboitizLand industrial business unit.
Aboitiz said in a statement that AboitizLand, developer of MEZ 2 and real estate unit of the Aboitiz Group, is committed to help its locators ride and recover from the economic fallout from the coronavirus disease 2019 (COVID-19) pandemic.
“It’s important that we work together in this changing business dynamic to help keep the economy moving and continue to provide employment to those depending on the industrial zone for livelihood,” Aboitiz said.
MEZ 2 locators, like most companies, are reeling from a drop in revenues and unexpected expenses to continue operations under community quarantine guidelines, Aboitiz said.
The pandemic and the community quarantine imposed by the government since late March have forced manufacturing businesses to adapt to production demand changes, labor support challenges and supply chain ecosystem constraints.
MEZ 2 hosts 49 multinational companies with a total workforce of 14,000. These companies are engaged in light to medium industries that include precision instruments, medical equipment, communication and electronics, automotive supplies, apparel, and furniture.
The 63-hectare ecozone was established in 1995 in partnership with MCIAA and is registered with the Philippine Economic Zone Authority.
Another component of MEZ 2 is a commercial corporate building that complements the retail and recreational lifestyle elements of the Pueblo Verde shopping complex, which has over 70 retail stores, services and restaurants, as well as a transit hub. (Ventures Cebu)